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Approaching to the level of (4/8)

24 September 2015, EUR/USD

came up to the level of (4/8)

The four-hours chart of EURUSD. The pair corrected and has almost reached the resistance area formed the main support / resistance levels (4/8) and the daily and weekly Supertrend lines. It is worth noting that now the pair has stopped at the level of (3/8), which is one of the signals of future price movements in the channel (3/8 - 5/8). Respond of the price to the level of (4/8) is decisive. If this level is easily passed from the bottom to the top, the main option is continuation of the flat. Bouncing from the level of (4/8) down would signal about continuation of this downward movement to the next target level (2/8).

Trade Solutions: sell from the level of (4/8)

Nikolay Krishtopov
Analyst of «FreshForex» company
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